Fraud Risk Manager
Accounting & Finance
Dubai - United Arab Emirates
Posted on Wednesday, February 7, 2024
As a Fraud Risk Manager, you will define, implement, and optimize the internal fraud risk strategy & framework for Mamo. You will enable the management of Internal Fraud Risk and driving sustainable value-add by reducing fraud-related losses across Mamo.
The Fraud Risk Manager will work as part of the 1st Line of Defence and work closely with the wider Risk team and Mamo Engineering, as well as conduct and support investigations, assurance and thematic reviews, and wider initiatives that feed into organizational education and the ongoing improvement of systems, controls, and procedures.
Why you’ll love working here
- Startup environment that’s big on individual responsibility and leans on process and automation.
- We’re big on culture. Work with stunning, supportive product, design, and engineering teams on problems that matter.
- You will be learning and growing all of the time. From business, product, and design to engineering, you will be learning from a world-class team that is caring, kind, and empathetic.
- Mamo has the potential for a wide-reaching impact. Mamo is taking on the challenge of bringing about a new era of financial inclusion that begins close to home by providing access and experiences that make sense. That means you will never be bored.
What you will do
- Conduct and support complex investigations, assurance and thematic reviews, and wider initiatives that feed into organizational education and the ongoing improvement of systems, controls and procedures.
- Check user files, including KYB, and wear an “investigative hat” during investigations.
- Take action on confirmed fraud cases based on a standard process/checklist.
- Deploy merchant monitoring tools and strategies to ensure we don’t onboard fraudulent users.
- Provide effective feedback and suggestions to improve our fraud engine (reporting to the Operations Director as the 1st Line of Defense) and reduce false positives.
- Work closely with and train the risk operations team (the 2nd Line of Defense)
- Contact customers regarding fraud investigations to obtain customer due diligence and make decisions on whether to suspend or offboard customers
- Proactively create and apply internal fraud risk policies, risk procedures, and indicators.
- Define, develop, and optimize Fraud Prevention and Detection Strategies at Mamo in accordance with risk appetite and prevailing regulatory requirements.
- Own the end-to-end risk incident management process.
- Prepare fraud-related data/trend analysis for management reporting and regulatory reporting. Propose fraud-related initiatives based on the trends identified.
- Work closely with payment processors and other third parties to use their fraud prevention tools and implement necessary internal measures to mitigate risks.
- Responsible for handling of fraud or money laundering investigations (reviewing transaction data, customer profiles, and patterns) and preparing reports for MLRO review.
What we’re looking for
- A Fraud Subject-Matter-Expert who can confidently provide oversight, challenge, and opinion to the management on Fraud Risk within financial services.
- At least 3+ years of experience in a financial crime and fraud risk.
- Experience in fraud risk legislation (globally is desirable e.g. DFSA, ADGM, FCA).
- Working knowledge of industry standards such as Visa/Mastercard and payment processor fraud rules.
- Experience with internal fraud investigations, including transaction monitoring and use of fraud detection tools with pre-set parameters and rules.
- Resourcefulness - get things done attitude.
- Love for investigations and a curious nature. Demonstrated ability to use analytical and problem-solving skills to identify and resolve issues.
- Experience with finance/payments is a plus.
- Professional certifications such as: ICA/CAMS/CFE certificates in financial crime prevention, fraud or risk management.
- A background in engineering or finance is desirable.
- Ability to communicate technical matters effectively with senior leaders.
- Strong and eloquent command of the English language, both verbal and written
- Solid understanding of technology, including data & analytics.
At Mamo, our employees are our first customers. We want our teams to be happy and healthy both inside and outside of work. Our benefits and perks are indicative of the philosophy that by taking care of our people they would take care of our users. We hire courageous explorers who are both kind and compassionate, and who enjoy iterating, learning, and growing. Here’s how we set you up for success:
🚀 Equity, that's right we want you to have skin in the game (full-time team members)
👏 Competitive salaries that are revisited yearly or each time we raise funding
🥷🏻 Top-tier medical insurance, so that you are your best at work (full-time team members)
📚 Endless training opportunities, our philosophy here is simple: learn, grow and share
👌 Rest up and come back refreshed with up to 25 paid days off in addition to statutory leave (full-time team members)
More about Mamo
Mamo’s flagship product is Mamo Business. The platform includes three critical parts to starting and operating a business; payments (money movement, receivables and payables), spend management (corporate cards) and API integrations.
Mamo is driven by its mission to remove the burden for small businesses requiring sophisticated and expensive engineering teams by automating their payments and finances so that they can reclaim time and resources and focus on growth. SMEs choose Mamo infrastructure to build better payment experiences, faster.
Mamo is proud to own and operate all of its core and financial IP. In 2022, Mamo was the first Fintech startup licensed by the DFSA with a Cat 3C Providing Money Services licence; allowing it to accelerate growth and expand into new markets and financial services.
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